Good point. Everyone chiting on USD or Treasury are conveniently forgetting Euro/Yen/Yuan/Ruble (lol) are just pieces of electronic paper as well. Golden Rule = He who has the Gold makes the Rules. Substitute Biggest Army for Gold nowadays. Until that changes USD is going nowhere.
if no requirement for usd to settle oil, then even the europeans don’t even need usd. and less demands for us bonds.
You dont seem to want to mention that countries are now requiring 5% interest to be paid for holding USD. And I seriously doubt this will go down anytime soon. It may go higher after the election. The security factor allowed US to present zero interest USD reserve holdings. But this dynamic seems to be changing quickly. I am mostly speaking here about the saudi type dynamic. Saudi sells oil to many countries. USA doesnt sell much oil unless its a "forced" sale to countries within europe (you buy our oil or we dont offer you security). If there is no general need for security...then US will create a security instability situation. This is now both true in europe and true in the saudi neighborhood of middle east. And it playing out in the south china sea as well now.
Its not really about who sells the most gold..Its about who "buys" the most gold. This is also true about Oil
Yes 5% or thereabouts currently. But they are still holding. As for the rest of it pure speculation. My crystal ball broke years ago.
%% TRUE; except black gold has a much, much more commercial co of buyers + sellers. Measured in US $$